Europe intelligent power module market demand is poised to expand at over 7% CAGR through 2026 led by rapid increase in the establishment of Electric Vehicle (EV) charging stations across the region.
SELBYVILLE, Del., October 20, 2020 (Newswire.com) – According to the latest report “Intelligent Power Module Market by Voltage Rating (Up to 600V, 1,200 V, Above 1,200 V), Current Rating (Up to 20A, 20A – 100A, >100A), Power Devices (Insulated-Gate Bipolar Transistor (IGBT), Metal Oxide Semiconductor Field Effect Transistor (MOSFET)), Application (Consumer Electronics, Industrial, Renewable Energy, Automotive), Regional Outlook, Price Trends, Competitive Market Share & Forecast 2026”, by Global Market Insights, Inc., the market valuation of intelligent power module will cross $2.5 billion by 2026.
The growing adoption of intelligent power modules in power converters, electric motor drives for aircraft will fuel the market growth over the coming years. Intelligent power modules offer several features such as low noise radiation, high-performance, small footprint, and increased power density. The integration of IPMs will help aircraft manufacturers to reduce the system cost and achieve small footprint packages that are required in avionics.
Request a sample of this research report @ https://www.gminsights.com/request-sample/detail/4843
The above 1,200 V segment in the intelligent power module market is expected to show a reasonable growth of around 5% till 2026 due to its increasing adoption in high-voltage industrial equipment such as power transformers, inverter appliances, motor control systems, and industrial motor drives, among others. The above 1,200 V IPMs offer high voltage stability and power density, which enhances the system efficiency of industrial equipment. To cater to the high demand in the industry, companies are continuously innovating new products.
The up to 20A current rating segment dominated the intelligent power module market share of more than 40% in 2019 owing to the increasing adoption of these devices in electronics and home appliances. Intelligent power modules up to 10A current rating are integrated into drain pumps, hydronic pumps, & compressor control systems of washing machines, refrigerators, air conditioners, and kitchen hoods. These devices offer high-performance and energy efficiency.
The intelligent power module market for renewable energy application held over 15% share in 2019 and is predicted to expand at a CAGR of more than 8% by 2026 on account of the rising adoption of intelligent power modules in photovoltaic systems and solar power plants. Supportive government initiatives and funding to increase the adoption of renewable energy resources will accelerate market expansion. For instance, the U.S. Department of Energy (DoE) has set an ambitious plan to achieve a 20% share in the country’s electricity consumption by implementing wing energy by 2030 and 35% by 2050.
Europe intelligent power module market accounted for 20% of revenue share in 2019 and is poised to expand at 7% CAGR through 2026 led by rapid increase in the establishment of Electric Vehicle (EV) charging stations across Europe. According to the August 2020 press release by the Department for Transport, Government of UK, there were 18,265 electric vehicle charging stations, fully operational in the UK in June 2020.
The deployment of EV charging stations is witnessing a Year-on-Year growth of 11% compared to June 2019. These EV charging stations and battery-power establishments have a high demand for intelligent power modules due to their advanced features such as fast charging, accurate sensing of power outputs, and DC/DC conversion to reduce power losses. The growing penetration of EV charging stations in the region will significantly propel the market value during the forecast timeline.
Some of the key players operating in the intelligent power module market are STMicroelectronics N.V., ON Semiconductor Corporation, Mitsubishi Electric Corporation, Infineon Technologies AG, and Fuji Electric Co. Ltd. These companies are extensively focusing on new product innovation and strategic collaborations to increase their market share. For instance, in March 2020, CISSIOD launched its new three-phase SiC intelligent power module for e-mobility solutions. The new 1,200V/450A IPM delivers low conduction and switching losses suitable for battery-powered cars.
Request customization of this research report @
Some major findings of the intelligent power module market report include:
– The increasing trend toward vehicle electrification will accelerate the demand for intelligent power modules. Rising government initiatives and funding to increase the purchase of electric vehicles will further accelerate the market value.
– Growing investments for automation in several industries and the proliferation of emerging technologies, such as Artificial Intelligence (AI) and the Internet of Things (IoT) for automated machinery, have augmented the market demand.
– Technological advancements in IGBT devices to reduce power consumption and achieve low noise in industrial equipment & motors will drive the intelligent power module market size.
– The rising adoption of smart home appliances in North America driven by rising disposable income among the population will create significant growth opportunities for regional players operating in the market.
– The Asia Pacific region is showcasing a major shift in manufacturing facilities from China to other Asian countries. Furthermore, favorable government policies are creating a lucrative opportunity for foreign companies to set up new manufacturing plants in this region. The availability of raw material suppliers and cheap labor in countries including Japan, Taiwan, South Korea, and India will favor market expansion.
– The COVID-19 pandemic has resulted in a prolonged lockdown and trade restrictions across the world, which has affected both supply and demand for intelligent power modules. This will hinder the market growth for the short-term.
Table of Contents (ToC) of the report:
Chapter 3. Intelligent Power Module Market Insights
3.1. Industry segmentation
3.2. Industry landscape, 2016 – 2026
3.3. Impact analysis of coronavirus (COVID-19) pandemic on intelligent power module market
3.3.1. Global outlook
3.3.2. Impact by region
3.3.3. Industry value chain
22.214.171.124 Research and development
3.3.4. Competitive landscape
126.96.36.199 Distribution network
188.8.131.52 Business growth
3.4. Industry ecosystem analysis
3.4.1. Raw material supplier
3.4.3. Distribution channel
3.4.5. Vendor matrix
3.5. Technology & innovation landscape
3.5.1. Integrated intelligent power module for motor control
3.5.2. IoT focused intelligent power modules
3.6. Regulatory landscape
3.7. Industry impact forces
3.7.1. Growth drivers
3.7.2. Industry pitfalls and challenges
3.8. Growth potential analysis
3.9. Porter’s analysis
3.9.1. Industry rivalry
3.9.2. Threat of new entrants
3.9.3. Buyer power
3.9.4. Supplier power
3.9.5. Threat of substitutes
3.10. PESTEL analysis
Browse Complete Table of Contents (ToC) @
About Global Market Insights, Inc.
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
Corporate Sales, USA
Global Market Insights, Inc.
Toll Free: 1-888-689-0688
Source: Global Market Insights, Inc.